Chinese (or Lunar) New Year is Feb. 3, 2011

The Chinese (Lunar) New Year falls on Feb. 3rd this year.

Because it is based on a lunar calendar, it's always a different date.

Anyone who works in the international shipping business from Asia, knows the impact of this holiday.

Basically all the factories shut down for at least a week, generally more. Everyone goes home (which is often a small village in China) to celebrate the holiday with their family.

And because the business of the country is shut down, nothing ships out, or in.

There could also be some major shifts in the Chinese economy.

From Bloomberg

China may raise the reserve requirement ratio for banks this year, the People’s Daily said, citing Bank of Beijing Co. Chairman Yan Bingzhu. The country may also use “other tools” to reduce liquidity, the report said, citing Yan.

The nation may raise interest rates around the Chinese New Year, the China Securities Journal said in a Jan. 21 front-page editorial.

As I have said before, China's economy will be driving the rest of the world in the next decade, so it's important to notice what's going on in China.

International Holidays

Today is Dec. 26th. It is not an official holiday in the U.S. However, it is in the U.K. and most of the Commonwealth.

It is called Boxing Day. Nothing to do with the sport of 2 persons pummeling each other, but something probably to do with alms (charity) boxes, or at least giving to the poor.

Generally in the U.S. all the states celebrate the same holidays, although some have special local ones.

I will never forget one of the first years I worked in ocean transport. I called my freight forwarder in Houston one day, and no answer (this was before the days of answering machines). I called several other companies and no answer. I couldn't figure out why, but then later was informed it was Texas Independence Day, which was an official holiday for the port.

The longshoremen in NY/NJ have an official holiday called "Teddy Gleason's Birthday", which just happens to be celebrated on St. Patrick's Day (at least it use to be, I can't find anything confirming this at the moment).

I have tried to think of a holiday which is truly international, but I don't believe there is one. Chinese New Year's is a huge celebration, but it's timing is based on the Chinese calendar and therefore is not celebrated on Jan. 1st.

And of course, the entire world does not celebrate Christmas, although I saw where it is now an official holiday in Iraq (wonder why).